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Updated about 5 years ago on . Most recent reply

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Matt Corrado
  • Rental Property Investor
  • Syracuse, NY
3
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13
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Unique Security Deposit Situation

Matt Corrado
  • Rental Property Investor
  • Syracuse, NY
Posted

Scenario:

I closed on a duplex Mid-December and the Seller has stayed in a unit until March 1st. This was planned as his new place wasn’t going to be ready until Spring and it helped me not have a vacancy right away.

He paid prorated December, Jan and Feb rent, and a one months security deposit. I also made him sign a lease and he recently signed a notice to vacate.

Therefore, my question is since I wasn’t able to do a Move-In Checklist, do I have any leverage to deduct from his security deposit if I find major damages? What are my options and has anyone else encountered his scenario?

Thank you in advance!

Most Popular Reply

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3,507
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John Teachout
  • Rental Property Investor
  • Concord, GA
3,256
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John Teachout
  • Rental Property Investor
  • Concord, GA
Replied

If you don't have any sort of reference point, it will be difficult to charge any damages to them. Obviously if they leave a bunch of stuff behind that you have to dispose of that would be chargeable but otherwise be prepared to return the full deposit.

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